Dangote Faults CBN’s Interest Rate, Asks FG To Protect Existing Businesses
News Source: Daily Trust
Chairman of the Dangote Group, Aliko Dangote, has criticised the hike of interest rate to almost 30 per cent by the Central Bank of Nigeria (CBN).
Speaking at the Banquet Hall of the State House, Abuja, during the opening session of a three-day summit organised by the Manufacturers Association of Nigeria (MAN), on Tuesday, he said with the present interest rate regime, it will be difficult to create jobs.
He added that it would also be tough for the manufacturing industry to grow and compete favorably.
Dangote, who also called for new policies that will protect domestic industries, said, “Nobody can create jobs with an interest rate of 30%. No growth will happen.”
(Photos Credits: Google)
Edo Government Gives Ex-Deputy Gov, Philip Shaibu Seven Days To Return 22 Official Vehicles
News Source: Sahara Reporters
The Edo State government has issued a public notice demanding the return of 22 official government vehicles currently in the possession of former Deputy Governor, Philip Shaibu.
The directive in a statement signed by Chris Osa Nehikhare, Hon. Commissioner of Communication and Orientation, sets a strict deadline for compliance.
"The former Deputy Governor is given a seven-day ultimatum from today to return the vehicles," stated Commissioner Nehikhare. He emphasised that failing to do so would prompt action from relevant security agencies tasked with retrieval.
The list of vehicles to be returned includes various models such as the 2021 model Toyota Landcruiser, Toyota Prado Jeep, Toyota Hilux Van, Toyota Corolla, Toyota Sienna, Jin Bei Hiase, Mitsubishi Pajero, and an armored Toyota Land Cruiser Jeep.
Kano Emirship tussle: Court adjourns hearing to July 4
News Source: Punch Newspapers
A Kano State High Court on Tuesday adjourned the hearing of an application of the ongoing Kano Emirship tussle case until Thursday, July 4.
The Kano State Attorney General and Commissioner of Justice, Speaker Kano State House of Assembly, and Kano State House of Assembly, through their counsel, Ibrahim Isah-Wangida, filed a motion ex parte on May 27.
The applicants are seeking an order restraining the 15th Emir, Aminu Ado-Bayero, and four other dethroned Emirs of Bichi, Rano, Gaya, and Karaye from parading themselves as traditional rulers.
The respondents are Alhaji Aminu Ado-Bayero, Alhaji Nasiru Ado-Bayero, Bichi Emir; Dr. Ibrahim Abubakar ll, Emir of Karaye; Alhaji Kabiru Muhammad-Inuwa, Emir of Rano; and Alhaji Aliyu Ibrahim-Gaya, Emir of Gaya.
N35bn found in Mompha’s accounts, witness tells court
News Source: Punch Newspapers
The sixth prosecution witness, Idi Musa, in the trial of Ismaila Mustapha, (a.k.a Mompha) on Monday, told Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos how N35bn was found in two bank accounts linked to the defendant.
The Lagos Zonal Command of the Economic and Financial Crimes Commission, had, on January 12, 2022, arraigned Mompha alongside his company, Ismalob Global Investment Limited, on an eight-count charge bordering on conspiracy to launder funds obtained through unlawful activity, retention of proceeds of criminal conduct, laundering of funds obtained through unlawful activity, failure to disclose assets and property, possession of documents containing false pretences and use of property derived from unlawful act.
One of the counts read, “Ismaila Mustapha, Ahmadu Mohammed (at large) and Ismalob Global Investment Limited, sometime in 2016, in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to conduct financial transactions to the tune of N5,998,884,653.18 with the intent of promoting the carrying on of specified unlawful activities to wit: obtaining by false pretence.”